During a special meeting Tuesday afternoon, the Blytheville City Council authorized the issuance of a deed to Arkansas Steel Processing.
Blytheville Mayor James Sanders said the company has satisfied the $9.5 million bonds issued June 1, 1992, and it now wants the deed.
"This is the same as the Act 9 bonds that we've discussed before in the past," the mayor told Council members.
Sanders said the company has paperwork showing the bonds were paid off in October 2008.
"We verified that with the bond attorney's office, the Friday firm," City Clerk Connie Mosley said, referring to Little Rock-based Friday, Eldredge & Clark, LLP.
The resolution allowing the mayor and city clerk to execute the deed passed, 5-0. Voting in favor were Council members John Musgraves, Monte Hodges, Shirley Overman, Mylas Jeffers and Stan Parks. Councilwoman Missy Langston was absent. Arkansas Steel Processing must pay the city $100 before receiving the deed, according to the resolution.
Council members also unanimously waived reading of the May Council meeting minutes until the June meeting.
mbrasfield@blythevillecourier.com